What Hilton Capital Management does

Hilton Capital Management is a Garden City, New York–based registered investment advisor founded in 2001 and operating as a wholly owned subsidiary of Rafferty Holdings LLC. The firm manages $3.2 billion in assets as of March 31, 2026 across three core actively managed strategies: Tactical Income (a multi-asset balanced total-return strategy), Dividend & Yield / DIVYS (a low-beta, large-cap dividend equity strategy), and Small & Mid Cap Opportunities / SMCO (a fundamentals-based SMID cap strategy). Strategies are distributed through separately managed accounts with a $250,000 minimum, the Direxion mutual fund platform (HCYIX/HCYAX for Tactical Income), and an in-house ETF shelf (SMCO, HBDC BDC Corporate Bond ETF, and Efficient Tactical Income).

The firm's underlying technology stack is conventional: there is no proprietary trading system, algorithmic engine, machine-learning pipeline, API, or mobile application disclosed. Investment differentiation rests on a proprietary investment process — sector-neutral constraints (±3% versus S&P 500), fundamentals-based security selection, and downside-protection discipline — rather than on technology or data assets. Marketing is content-driven via a blog, "The Disciplined Investor" newsletter, LinkedIn, YouTube, and downloadable quarterly decks, with no documented paid advertising.

Revenue is generated almost entirely through recurring asset-based advisory fees deducted quarterly in arrears from managed accounts, supplemented by expense ratios on the mutual fund and ETF wrappers (the latter distributed via Direxion and the firm's own ETF platform). Customers span three segments — individual investors and their advisors (the primary segment), institutional investors, and wealth managers/RIAs — with the firm participating in Schwab's AdvisorDirect referral program as a channel for acquiring new client assets. Leadership transitioned in April 2026 when Jeffrey Seeley was appointed CEO, succeeding Craig O'Neill, who moved to Executive Chairman of Hilton and Executive Vice President of parent Rafferty Holdings.

Name

Hilton Capital Management

Legal name

Hilton Capital Management, LLC

Website

https://hiltoncapitalmanagement.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Hilton Capital Management is a Garden City, NY–based registered investment advisor managing $3.2 billion across three actively managed strategies (Tactical Income, Dividend & Yield, Small & Mid Cap Opportunities), distributed via separately managed accounts, mutual funds, and ETFs to institutions, financial advisors, and individual investors.

Ownership category

akta.pro rank

Product category

Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Multi-Asset Mutual Funds & UCITS (Balanced/Allocation Funds) (FSAAAJAA)

akta.pro secondary industries

Large-Cap Equity (Active) (FSAAAIAA), Small-Cap Equity (Active) (FSAAAIAC)

Keywords

• Investment management services
• Actively managed equity strategies
• Asset management advisory
• Multi-asset income strategies
• Separately managed accounts

Headquarters

HQ city

Garden City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Investment Advisory Fees: Hilton Capital Management earns fees calculated as a percentage of the market value of assets under management (AUM). Fees are assessed on assets managed and deducted quarterly in arrears (end of each quarter). As an RIA, this is the firm's primary revenue stream. The firm also earns management fees through affiliated fund wrappers distributed via Direxion (HCYIX/HCYAX mutual fund) and its own ETF shelf (SMCO, HBDC), which charge expense ratios to fund shareholders.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Hilton Capital Management is an investment management boutique that offers actively managed, long-only equity and balanced strategies to institutions, individual investors, and financial advisors. The firm manages three core strategies — Tactical Income (multi-asset balanced), Dividend & Yield (low-beta large-cap dividend equity), and Small & Mid Cap Opportunities (SMID cap) — available through separately managed accounts, mutual funds (via Direxion), and ETFs, with more than $3.2 billion in assets under management as of March 31, 2026.

Product overview

Hilton Capital Management is an investment management boutique offering actively-managed, long-only balanced and equity strategies for institutions, individual investors, and their advisors. The firm manages three core investment strategies: Tactical Income (balanced total return focused on income with reduced risk), Dividend & Yield (DIVYS, low-beta large-cap equity centered on dividends), and Small & Mid Cap Opportunities (SMCO, fundamentals-based SMID cap strategy). These strategies are available through multiple vehicles including separately managed accounts, mutual funds via Direxion (HCYIX/HCYAX), actively managed ETFs (SMCO, HBDC), and the Efficient Tactical Income ETF wrapper. The firm manages over $3 billion in assets across these strategies and asset classes.

Differentiator

Problem solved

Functional benefit

Brands

• Tactical Income (TI): A balanced total return strategy focused on income with reduced risk. Also available as a mutual fund (HCYIX/HCYAX) via Direxion.
• Dividend & Yield (DIVYS)
• Small & Mid Cap Opportunities (SMCO)
• Efficient Tactical Income (ETI)
• Hilton BDC Corporate Bond ETF (HBDC)

Products and services

• Tactical Income Strategy A balanced total return strategy focused on income with reduced risk. Multi-asset income strategy seeking capital preservation with an emphasis on income generation through equities, fixed income, and commodities.
• Dividend & Yield Strategy (DIVYS) Low beta, large-cap equity strategy centered on dividends with sector adjustments. Hybrid approach balancing income, dividend growth, and capital appreciation.
• Small & Mid Cap Opportunities Strategy (SMCO) A fundamentals-based SMID cap strategy seeking opportunistic, risk-adjusted investments across the value-growth spectrum. Identifies companies whose market prices may not fully reflect their fundamental earnings potential.
• Efficient Tactical Income Strategy (ETI) Passive ETF strategy mirroring the Tactical Income strategy with fewer positions and a lower minimum investment. Designed as a more accessible wrapper for the Tactical Income approach.
• Tactical Income Mutual Fund (HCYIX/HCYAX) The Tactical Income strategy available as a mutual fund outside Hilton Capital Management, distributed via Direxion (tickers HCYIX/HCYAX). Charges fund-level expense ratios to shareholders.
• Small-MidCap Opportunity ETF (SMCO) Actively managed ETF implementing the SMCO strategy, seeking to identify companies whose market prices may not fully reflect their fundamental earnings potential. Listed on exchanges and accessible through brokerage accounts and investment platforms.
• Hilton BDC Corporate Bond ETF (HBDC) ETF seeking to track the performance, before fees and expenses, of the Solactive Hilton Capital BDC Corporate Bond TR Index. Provides exposure to business development company (BDC) corporate bonds.

Quantifiable outcome

• DIVYS composite delivered +15.9% gross return (15.3% net) for full year 2025, substantially outperforming widely held dividend strategies such as ProShares S&P 500 Dividend Aristocrats (~+7.3%) and Schwab U.S. Dividend Equity ETF (~+4.5%)
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• DirexioncoreChannel Partner/ Reseller/ DistributorDirexion distributes the Hilton Tactical Income Mutual Fund (tickers HCYIX/HCYAX), making the Tactical Income strategy available to investors outside of a separately managed account. Hilton Capital's strategies are available via the Direxion fund shelf alongside other fund products.
• Direxion ETFscoreChannel Partner/ Reseller/ DistributorThe Small-MidCap Opportunity ETF (SMCO) and Hilton BDC Corporate Bond ETF (HBDC) are distributed via the Hilton ETF platform (hiltonetfs.com), with SMCO listed on exchanges and HBDC tracking the Solactive Hilton Capital BDC Corporate Bond TR Index.
• Charles Schwab & Co.minorChannel Partner/ Reseller/ DistributorHilton Capital participates in Schwab's AdvisorDirect referral program, through which Schwab refers clients to investment advisors that custody assets at Schwab. This creates a potential conflict of interest as Hilton has an incentive to recommend Schwab custody and trading for referred client accounts.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• WisdomTree Investments: Public asset manager specializing in dividend-focused and factor-based ETFs that competes directly with Hilton's DIVYS strategy. WisdomTree's U.S. Dividend ETF (DTD) and Dividend Growth (DGRW) are benchmarks for Hilton's Dividend & Yield composite and represent the most direct publicly traded competitive threat in the dividend-ETF category.
• Affiliated Managers Group (AMG): Multi-affiliate global asset manager that owns stakes in boutique investment firms. Hilton's new CEO spent 16+ years at AMG overseeing ~$100B in distribution; AMG competes for institutional mandates that Hilton targets, and its multi-affiliate model represents both a competitive threat and a potential strategic acquirer pattern.
• Charles Schwab Investment Management: Large asset manager whose Schwab U.S. Dividend Equity ETF (SCHD) is a direct competitor to Hilton's DIVYS strategy. Schwab's AdvisorDirect referral program also channels client assets toward Hilton, creating both a partnership and a competitive overlap in the dividend-ETF category.
• Vanguard: Largest U.S. asset manager with deep passive and dividend ETF offerings that compete head-to-head with Hilton's active strategies. While Hilton's active approach targets risk-adjusted outperformance rather than competing on cost, Vanguard's dividend and balanced ETFs set the pricing and distribution baseline that Hilton must justify through performance.

Direct peers

• ALPS Advisors: Boutique asset manager and ETF sponsor offering actively managed equity and income strategies distributed through advisor channels. ALPS competes with Hilton in the actively managed ETF and SMA space, with similar size, target client base (advisors and institutions), and strategy breadth.
• ProShares: ETF sponsor offering the ProShares S&P 500 Dividend Aristocrats ETF (NOBL), which Hilton uses as a direct benchmark for DIVYS. ProShares competes in the dividend, tactical, and SMID-cap ETF categories where Hilton operates, with overlapping distribution on major brokerage platforms.
• Congress Asset Management: Mid-sized boutique RIA offering actively managed equity and balanced strategies to institutions and advisors. Congress is comparable in scale, strategy mix (multi-asset, dividend, growth), and target client base, making it a relevant peer for Hilton in the boutique active-management segment.
• Litman Gregory Wealth Management (now iMGP): Multi-affiliate boutique investment platform offering actively managed equity and balanced strategies to advisors and institutions. Hilton's new CEO Jeffrey Seeley was previously CEO of iMGP/Litman Gregory, making it a directly comparable boutique RIA with similar strategy mix, channel distribution, and advisor focus.
• Direxion Funds: ETF and mutual fund sponsor that distributes Hilton's Tactical Income Mutual Fund (HCYIX/HCYAX) and is a sibling company under Rafferty Holdings. Direxion is the channel through which Hilton's mutual fund strategy reaches investors, making it a closely related — though distribution-aligned — peer in the active ETF/mutual fund space.

Emerging players

• iM Global Partner: Multi-affiliate European-headquartered asset manager where Hilton's new CEO previously served as Deputy CEO. iMGP partners with boutique managers globally and competes for similar institutional and advisor relationships; it represents a global expansion path and a competitive overlap in Hilton's target market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@hiltoncapitalmanagement
• LinkedInlinkedin.com/company/hilton-capital-management-llc
• Xx.com/hiltoncapital
• Facebookfacebook.com/157790434582984

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hilton Capital Management